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CyberTech Total Revenue for Q1FY22 was Rs 351 million, up by 12.4% QoQ basis

Posted On: 2021-07-24 10:45:28 (Time Zone: UTC)

CyberTech Systems and Software Ltd. (BSE: 532173; NSE: CYBERTECH), a CMMI Level 3 next-generation spatial analytics and SAP digital solutions provider, announced today its financial results for the first quarter ended on 30th June, 2021.

Commenting on the results, Mr. Vish Tadimety, CEO and Founder, CyberTech, stated: "As we continue to manage the Company's progress through this Pandemic we continue to be cognizant of its impact on our extended family of colleagues, customers, shareholders and well wishers. We are thankful for your continuing support. While the second wave of COVID-19 seems to have been flattened in India, the daily number of new cases is still alarming and indicating that we are still not out of the woods. We continued to support our clients and our associates in this troubled time. To that end, CyberTech has arranged a COVID-19 vaccination drive for our associates and their family members as well as providing support to family members. I would also like to thank our management team for spending countless hours on issues of safety for our associates. I also thank our associates who have continued to provide the highest levels of customer satisfaction.

I am pleased to report that despite the challenges, we reported another robust quarter driven by substantial growth in our focus areas. Our topline grew by 12.4% over last quarter to Rs. 351 million and our PAT grew by 40.6% over last quarter to Rs. 39.4 million. These figures speak for the efficacy of our strategy to focus on enterprise cloud transformation which is gaining unprecedented momentum in this pandemic era.

As per Corporate Reports, Factset, and Piper Sandler Estimates, the cloud industry will grow to $1,133B in 2030 from the current size of $220B in 2020. We are perfectly positioned to be part of this astronomical growth trajectory with our cloud focused strategy.

SAP continues to play a key role in our cloud transformation strategy. Our HANA GeoDB migration offerings continued to gain traction through our partnership with the SAP Database Migration Factory. We have been awarded several HANA cloud migrations through this channel and our direct sales channel.

Our Managed ArcGIS Cloud Services offerings continued to grow. We booked an additional deal during the quarter. We are also in various stages of discussion with a number of potential clients. Our unparalleled expertise in geospatial engineering, coupled with our capability and depth in the areas of cloud transformation and cybersecurity is driving our success.

I am delighted to inform you that an additional large water utility company has subscribed for our Spatialitics Utilities product suite. This customer has a fairly large enterprise lifecycle value, which is the hallmark of any Spatialitics deal and the deal will translate into a long term recurring revenue stream for the company.

We have expanded our Spatialitics Public Safety Industry Advisory Board during the quarter. Chief Eric Young of Ogden Police Department and Lieutenant Corey Solferino of Washoe County Sheriff's Office have joined as Public SafetyIndustry Advisory Boardmembers. Chief Young is a decorated police officer and an active promoter of the use of technology at the Ogden Police Department. Lieutenant Corey Solferino is a recognized leader with a 20 + year criminal justice and law enforcement career. We are privileged to have both of them as industry advisors.

Meanwhile, our targeted digital sales strategy is yielding great results. We are generating a significant number of leads through these campaigns. We will continue to invest in building a talent pool and in acquiring next-gen digital infrastructure.

I thank our clients, associates and my fellow shareholders for having trust in the company's vision and strategy. I am confident that our growth will continue to benefit all constituents."

Performance Highlights

Consolidated Q1FY22 Q-o-Q Review

- Total revenue was Rs 351.0 million during the quarter under review as compared to Rs 312.3 million during the previous quarter, a growth of 12.4% on a Q‐o‐Q basis.

- The Company reported an EBITDA of Rs 76.6 million during the quarter under review as compared to Rs 58.2 million during the previous quarter, a growth of 31.7% on a Q-o-Q basis.

- EBITDA Margin stood at 21.8% for Q1FY22 as compared to 18.6% in Q4FY21.

- Net Profit stood at Rs 39.4 million during the quarter under review as compared to Rs 28.0 million during the previous quarter, a growth of 40.6% on a Q-o-Q basis.

Consolidated Q1FY22 Y-o-Y Review

- Operating revenue was Rs 334.3 million during the quarter under review as compared to Rs 303.6 million during the corresponding quarter of previous year, a growth of 10.1% on a Y-o-Y basis.

- Total revenue was Rs 351.0 million during the quarter under review as compared to Rs 320.7 million during the previous quarter, a growth of 9.4% on Y-o-Y basis.

- The Company reported an EBITDA of Rs 76.6 million during the quarter under review as compared to Rs 87.0 million during the corresponding quarter of previous year.

- EBITDA Margin stood at 21.8% for Q1FY22 as compared to 27.1% for Q1FY21.

- Net Profit stood at Rs 39.4 million during the quarter under review as compared to Rs 51.7 million during the corresponding quarter of previous year.

Business highlights - Q1FY22

- Total active client count as of 30th June, 2021 was 50 (LTM).

- From an Industry perspective, revenue from the Technology sector continued to witness strong momentum and contributed 70% towards our operating revenue.

- In terms of geography, our US business continued to be the major contributor with a contribution of 96% towards our operating revenue.

- As on 30th June, 2021, the Company had 502 total employees.

Shares of CYBERTECH SYSTEMS AND SOFTWARE LTD. was last trading in BSE at Rs. 191.5 as compared to the previous close of Rs. 201.4. The total number of shares traded during the day was 63639 in over 2234 trades.

The stock hit an intraday high of Rs. 204.6 and intraday low of 188. The net turnover during the day was Rs. 12435591.

Source: Equity Bulls

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